Though I have always been against ‘get rich schemes and tips’, I have been receiving numerous emails asking the much-repeated question ‘how to get rich quick.’
Earlier, I had posted many articles on investing in 401k savings, CD’s, savings account, stock market, real estate, and gold. These tips, however, ensured a steady income rather than quick riches. This explains the bedlam of people wanting to earn money overnight. Not anymore. Here is a list of things to do to earn money instantly.
- Stock Market Speculation
We all know stockmarket is a place to earn a fortune. You just need to invest in right companies and at right time. Remember, every big company once started small. Find an emerging company in a booming sector, and invest in it. - Buy Property
Housing prices are definitely not at their peaks. Get a mortgage and start buying properties at prime locations, and wait for the right time to arrive, which isn’t far now. - Get stock market tips
But not from the market gurus on the web. Get some real information from people scurrying around the Wall Street. They know the secrets; why do you think they have 20 cars and 5 mansions? - Gamble
Ever tried gambling? No? The good news is, you can learn almost everything on the web, including levitation. That’s not gambling though. You can learn many skills online, essential to win in blackjacks, craps. - Blogging
Almost everyone can start a blog. Don’t believe me? Look at this blog, I know nothing about personal finance, yet I am earning. Write posts, perform SEO, paste some ads, and voila! Quick Cash! - Tax Returns
Cheek the list of things you can claim as deduction, or consult a shrewd attorney, and get a considerable amount bank in your bank account. And when you get this money, use the other 6 tips to get rich quick. - Win a lottery
Chances of winning a lottery are very low. And the unfortunate part is, most people think as you do. Why do you have to buy a single ticket? Get as many as possible, and the chances suddenly surges.
10 minutes later…
What? I just received a call from my accountant and lawyer, and while discussing these things with them, I realized I have got few facts wrong.
Umm, where do I start? Okay… stock market speculation doesn’t seem to be a great idea, it’s actually gambling, not investing. And gambling isn’t a good idea either. If it would have been so easy winning in blackjacks, more than half of world’s population would have been rich; actually, very rich, because they would gamble more with the money received. And my lawyer says, real estate is a good investment, but for long term. In short-term, the market is volatile, and it’s expected to drop further. Even if the market rises and you earn quickly, you will have to pay taxes on short term capital gains.
And I though I were earning thousands on my blog everyday. My accountant, however, just informed me I have few cents in my adsense account, and that’s a monthly income.
What about the lottery money? If I win, I wouldn’t have to think about saving money ever again. Here’s the truth, if you buy every available lottery ticket, you would have to get a food loan, utility loan, car gas loan, and a loan for every other expense you make daily.
The truth is: There’s only one way to earn money, save it, as much as you can.....